(d)

an independent review of the institution's system for the estimation of volatility adjustments shall be carried out regularly within the institution's own internal auditing process. A review of the overall system for the estimation of volatility adjustments and for the integration of those adjustments into the institution's risk management process shall take place at least once a year. The subject of that review shall include at least the following: the integration of estimated volatility adjustments into daily risk management; the validation of any significant change in the process for the estimation of volatility adjustments; the verification of the consistency, timeliness and reliability of data sources used to run the system for the estimation of volatility adjustments, including the independence of such data sources; the accuracy and appropriateness of the volatility assumptions.

← art_225__para_3__point_c__text_1 · All articles · art_225__para_3__point_d__text_1 →

Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.